Qualified Remodeler Magazine

MAY 2018

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

Issue link: https://qualifiedremodeler.epubxp.com/i/983771

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Page 7 of 67

investment. Others have no franchise fee but do require a certain amount of product sales to maintain a protected territory. Some come with robust and detailed support systems that must be followed, while others offer basic support with a long leash to run the business as each owner sees fit. No two opportunities are the same. Each deal is different. But unlike the TV show, "Let's Make a Deal," the reveal is much different. It some- times takes months or years to know if the opportunity selected is a winner or a donkey. at's because so much of success or failure in any new business opportunity is determined by the talent and effort of individual owners. Another factor is how well a franchise oppor- tunity complements your existing business. Are the markups and margins similar, or are they different from what you know and un- derstand? Are the products or services sold in a way that would require a new way of doing things? Finally, are you prepared to do whatev- er it takes to make the new endeavor a success? at last question is the most important one. Even the best and most established business opportunities will fail without a determination to truly succeed. On the other hand, some- times opportunities with less of an established track record can fit extremely well with your current operation and become successful de- spite a much lower cash investment. e deal is just the start of any successful new business venture. e bigger portion of any deal is how much of your heart and soul you are willing to give it. | f you know the name Monty Hall, you probably remember the television game show he hosted, "Let's Make a Deal." It aired on network television in the '70s. e studio audience would dress up in out- rageous costumes to get Monty's attention. If Monty singled you out, he would offer you a deal. Usually the deal involved a trade-off. Contestants could accept a low amount of cash, or they could use the cash to buy something bigger behind Door No. 1, 2 or 3. Most people opted to forgo the cash for a look behind one of the doors. ey wanted the possibility of something bigger. For the fortunate few, it paid off with a new ski boat or a European vacation. For others, it was something of little value, like a donkey in a sombrero. Contestants never knew exactly what was behind the door. e television show is long gone, but some- times that's how it feels when you go out and evaluate new business opportunities. You've got some investable cash and the question is: Do you trade it for an unknown opportunity? In the remodeling and home improvement industry, there is a long list of dealer and fran- chise opportunities. We publish these opportu- nities annually in our May issue, including this one. For many years, we've understood that most remodelers are entrepreneurs. ey look for new opportunities in businesses adjacent to one they've already built. MONEY IS LESS IMPORTANT Our seven pages of franchise and dealer op- portunities are extremely varied, offering ev- erything from windows and doors to one-day baths. And each deal is different. Some require both a franchise fee and a minimum capital Let's Make Opportunity I 8 May 2018 QR QualifiedRemodeler.com EDITORIAL DIRECTOR'S NOTE Patrick L. O'Toole Published by SOLA Group, Inc. 1880 Oak Ave., Suite 350 Evanston, IL 60201 847.440.3000 Publisher and Patrick L. O'Toole Editorial Director Patrick@SOLAbrands.com Ext. 103 Senior Editor Kyle Clapham Kyle@SOLAbrands.com Ext. 107 Managing Editor Kacey Larsen Kacey@SOLAbrands.com Ext. 105 Audience Development Donna Heuberger Donna@SOLAbrands.com Creative Director & Tracy Hegg Production Manager Tracy@SOLAbrands.com Senior Graphic Designer Erika Nygaard Erika@SOLAbrands.com Editorial Advisory Board Stephen Gidley, GMB, CAPS, CGP, CGB, CGR, CPRC, CR Jeffrey Holloway, CKD, CBD, CGR Michael Nagel, CGR, CAPS Scott R. Sevon, CGR, CAPS, GMB, CGP, GMR Donna Shirey, CGR, CAPS, CGP Kenneth P. Skowronski, CR Midwest and West Paul DeGrandis Sales Manager Paul@SOLAbrands.com Ext. 100 Midwest Sales Manager Jessica Fidrocki Jessica@SOLAbrands.com Ext. 117 National Automotive Tom Lutzke Sales TLutzke@ACBusinessMedia.com Product Showcase/ Mike Serino Classifieds Mike@SOLAbrands.com Ext. 102 Digital Programs Tim Steingraber Manager Tim@SOLAbrands.com Ext. 106 Projects Manager Heidi Riedl Heidi@SOLAbrands.com Ext. 111 Subscriptions QR Circulation Dept. (866) 932-5904 QualifiedRemodeler@omeda.com A preferred publication of the National Association of the Remodeling Industry and the NAHB Remodelers

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